Lukoil masters oil fields in West Africa

Lukoil considers Western Africa one of its priority areas for oil production. According to experts of the company, the raw materials resources of this region amount to approximately 5 billion. Oil barrels. The company predicts that this can add 10 percent to the current level of oil production.

Projects in countries such as Ghana, cat-d’Ivoire and Sierra Leone contain about 5 billion. barrels of carbon. Such a message was made at the television conferen that vice president of the company Lukoil. According to his estimates, investments in these projects can amount to 900 million. dollars, and for the 9 months of this year, investment in non-non-discharge deposits of countries such as Gana and Cot-D’Ivoire amounted to 250 million. dollars.

Currently, the company’s reserves for foreign assets are 138 billion. barrels. At the same time, foreign projects generate about 10 percent of the EBITDA LUKOIL. However, according to the vice president, this share in the near future should double, and this applies to both the financial side and physical.

Last week, the company’s management announced that on the CI-401 block, which is located on the Ivoari shelf, a major opening was made. This shelf company Lukoil, which owns 56 percent of the shares, develops with the American company Vanco. The local state company Petroci Holding also takes part in the development of deposits. The share of the American and Ivoarian company is 28.34 and 15 percent, respectively. The Independence-1x well, which was drilled on this block, contains sandstones of satisfactory quality that contain oil and gas condensate. However, they did not talk about the volume of deposits in the company, since the drilling of this well of the analysis of oil tributaries did not suggest. According to the vice president, when the second well is drilled, then it will already be possible to talk about debit. He promised that he would be quite high. In addition, the digging Lukoil continues to drill the structure of the CI-401 block-Albacore-1x. After the oil analysis from the Independence-1x well is carried out, the company will begin exploration work of the well on the structure of the CI-101 block.

According to analysts, in a favorable situation, oil reserves in West African projects will amount to about 20 percent of the declared volume, which will be approximately 1 billion. barrels.